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Tim Coffin Benedicte Gravrand, Opalesque Geneva:

Traders might include shipping derivatives in their portfolio, analyse spreads and make bets, but few focus solely on this asset class. Especially since it has not fared well in the past eight years. But a Florida-based commodity trading advisor has launched a program focused on just that.

Vista CTA LLC launched the Vista CTA Freight Program on 1st August. It is a systematic statistical arbitrage trading program that deals in the forward freight agreement (FFA) and marine fuel markets.

It is Vista CTA’s third strategy since the company started in 2009. It is managed by Thomas (Tim) Coffin, whose background includes raising and managing institutional capital, fleet management, finance and business development in both dry and wet markets, and Dr. Philip Drew, an experienced Professional Risk Manager (PRM) with a PhD in Computational Physics and a Certificate in Quantitative Finance (CQF). Tim Savage, founder of a third party marketing firm Oculus Capital, and formerly director at hedge fund Argo Capital Management, takes care of business development.

Coffin and Drew used to be partners at London-based Global Maritime Investments (GMI) several years ago. The dry-bulk shipping company filed for bankruptcy in September 2015, after posting losses in its last years. At the time, ......................

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